X0202 4 2007-06-08 0 0001168220 ULURU INC. ULUR 0001218321 OSS CAPITAL MANAGEMENT 598 MADISON AVENUE NEW YORK NY 10022 0 0 1 0 Common Stock, $.001 Par Value 2007-06-08 4 P 0 1000000 4.89 A 11676315 I See Footnote This Form 4 is being filed to report that O.S.S. Capital Management LP, a Delaware limited partnership (the "Investment Manager"), Schafer Brothers LLC, a Delaware limited liability company (the "SB LLC") and Mr. Oscar S. Schafer ("Mr. Schafer", collectively with the Investment Manager and SB LLC, the "Reporting Persons"), have purchased an additional 1,000,000 shares of ULURU Inc. (the "Issuer") common shares which are held for the benefit of a third party in a separately managed account. The Reporting Persons have investment discretion with respect to securities held by the separately managed account as described in this filing and as described in the Form 4 filed on April 4, 2007 (Accession Number: 0000902664-07-001397) and the Form 4 filed on April 16, 2007 (Accession Number: 0000902664-07-001470). The Reporting Persons also have investment discretion with respect to securities held by a Cayman Islands exempted company and two Delaware limited partnerships as more fully described in the Form 3 filed on December 15, 2006 (Accession Number: 0000902664-06-002734). This report shall not be deemed an admission that the Reporting Persons are or have been the beneficial owners of such securities for purposes of Section 16 or for any other purpose. /s/ Oscar S. Schafer 2007-06-12